Adam Justin Acquires Multifamily Property In Greenpoint, Brooklyn For $9.4M
759 Manhattan Ave #761, Brooklyn, NY 11222, USA
Building Size
212,500 SF
Asset Type
MultiFamily
Closing
Feb 15, 2018
AI
The multifamily property located at 759-761 Manhattan Avenue in Greenpoint, Brooklyn has been sold in a closed transaction. The property consists of 18 units and spans across 21,250 square feet. The transaction price for this property was $9,400,000, resulting in a price per square foot of $442.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,400,000
- Address: 759-761 Manhattan Avenue, New York
- Market: Greenpoint, Brooklyn
- Square Footage: 21,250 sf
- Price per Square Foot: $442
- Number of Units: 18
The seller of the property was RedSky Capital, represented by Ben Bernstein. The buyer, Adam Justin, successfully acquired the property. The transaction was facilitated by Lexi Kaplan, who acted as the broker.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93